Last Update: January 10, 2023, 21:42 IST
Ganesh Balakrishnan left everyone emotional with his pitch in Shark Tank India 2.
The entrepreneurial spirit of Ganesh Balakrishnan has been appreciated by sharks and netizens alike.
One of the most watched reality series on Indian television, Shark Tank India has gained immense popularity. So much so that the series is back with its second season. However, there is one episode from the current season which is making headlines. One of the recent episodes was filled with emotions when Ganesh Balakrishnan, who had come to seek funding for his shoe company, Flatheads, broke down in front of the camera. He was offered a deal, but declined it. However, he became popular on Twitter, which aided his company, which was otherwise in danger of failure.
What happened to Ganesh Balakrishnan in Shark Tank India 2
In the show, Ganesh Balakrishnan claimed that flatheads first appeared in 2019, but caused problems as a result of the COVID-19 pandemic-induced lockdown, which kept people indoors. The entrepreneur breaks down admitting that his business is failing and he needs the money. He said that for the past two months, he has contributed Rs 35 lakh from his personal savings to keep the company viable.
Initially, the sharks were not convinced by his pitch and asked Ganesh Balakrishnan what his future intentions were with the company. Ganesh said he would seek employment, collaborate with an expert in the field, and then attempt to start his own firm.
Meanwhile, two sharks, Piyush Bansal and Vinita Singh, made an offer of Rs 75 lakh to Ganesh Balakrishnan in exchange for 33.3% shares of the company. In this offer, the value of his business was estimated at Rs 2.25 crore. Ganesh, however, requested a valuation of Rs 25 crore, given that his business generated Rs 3.4 crore in sales in FY22. She turns down his offer, despite the fact that Ganesh has recently used his own funds to run the company.
Ganesh Balakrishnan impresses the audience, all get emotional
Ganesh Balakrishnan and his company started trending on Twitter and Google Trends shortly after the episode aired on Sony. This helped the failed company gain recognition. Amazingly, Flatheads was able to sell off all of their inventory within 48 hours. The founder shared his joy in a heartfelt note via LinkedIn.
“We have almost sold out our inventory in India so forgive us if you cannot find your size on www.flatheads.in. It would be amazing if you can tell your friends in the US and UAE to try our shoes.”
Who is Ganesh Balakrishnan?
The entrepreneurial spirit of Ganesh Balakrishnan has been appreciated by sharks and netizens alike. So here’s what we know about him so far: He is an entrepreneur with an IIT background and 20 years of overseas experience. He is the co-founder of Flatheads, a company that makes casual shoes for urban workers and sells them for between Rs 1,000 and Rs 5,000 per pair. Additionally, it sells the first sneakers made from linen and banana fibers.
Prior to founding Flatheads, Ganesh has held various positions with organizations such as Momo Technologies, ShopClues, Bain & Company, Honeywell Technologies and others. In addition, he co-founded Momo, a mobile payment platform, which was acquired by startup unicorn ShopClues.
read all latest movie news Here